Kibera, Africa’s largest informal settlement, is gaining recognition for its increasing bitcoin usage. Over 40 merchants accept it for goods and services, enhancing financial inclusion.
Bitcoin Usage in Kibera
In Kibera, located in Nairobi, Kenya, more than 40 local merchants have started accepting Bitcoin for everyday transactions such as groceries and small services. This shift marks a significant move towards financial inclusion for communities often excluded from traditional banking systems.
Merchants and Inflation
A major motivation behind adopting Bitcoin is tackling the inflation of the Kenyan currency. By accepting Bitcoin, merchants are not only transacting but also saving their earnings in the digital currency. Bitcoin provides a hedge against the depreciating Kenyan shilling, offering a new way to store value and plan for the future.
Community-Led Financial Revolution
This grassroots movement is driven by education and awareness campaigns. Locals are learning how to use Bitcoin wallets, conduct transactions, and save securely. The initiative empowers not only merchants but also attracts more customers interested in using digital currencies.
As interest in Bitcoin grows, Kibera stands out as a powerful example of how decentralized finance can reach and uplift underserved communities, offering them more control over their financial futures.
